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Simple English definitions for legal terms

survivorship annuity

Read a random definition: standing aside a juror

A quick definition of survivorship annuity:

A survivorship annuity is a type of payment plan where someone agrees to pay a certain amount of money to another person every month or year. But, if the person receiving the payments dies, the payments stop. However, with a survivorship annuity, if the person receiving the payments dies, the payments continue to be made to their spouse or another person they have chosen. It's like a promise to keep taking care of someone even after they're gone.

A more thorough explanation:

A survivorship annuity is a type of annuity that provides continued payments to a survivor, usually a spouse, after the original annuitant dies. An annuity is an obligation to pay a stated sum, usually monthly or annually, to a stated recipient. These payments terminate upon the death of the designated beneficiary.

For example, if a husband and wife purchase a survivorship annuity, the annuity will continue to pay the wife after the husband dies. This provides financial security for the surviving spouse.

Another example is a group annuity, which is payable to members of a group, especially employees, who are covered by a single annuity contract, such as a group pension plan. If an employee dies, their spouse may be eligible to receive survivorship annuity payments.

Overall, survivorship annuities provide a way for individuals to ensure that their loved ones are financially secure after they pass away.

surviving | survivorship clause

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[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
WorthlessAttractiveZombie
7:44
My berkeley paragraph finally disappeared. I definitely think it is just an indicator that they are actively reviewing files, and does not mean anything about A, WL, or Rs
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